Frank received the following benefits from his employer this year. What amount must Frank include in his gross income?
Benefits Received Amount
Salary $54,450
Health insurance 2,900
Group-term life insurance {face $50,000} 1,800
A. $54,450
B. $57,350
C. $56,250
D. $59,150
E. $0—these benefits are excluded from gross income.
Answer: A